Centrifugal Blood Pump Market: Overview
Centrifugal blood pumps have been mainstreamed in routine cardiac surgeries for more than one decade now. Ventricular assist devices have been popularized in providing short-term support in biventricular assistance. The centrifugal blood pump market earned good revenues from their use as mechanical assist devices for heart failure.
Over the years, such devices have seen remarkable advances in design as well as the materials used, so that thrombosis rate is reduced and biologically safe. Growing array of biocompatible surface options has expanded the option for centrifugal pumps in the centrifugal blood pumps market. They also result in low haemolysis. Advancements have been witnessed in motor technologies and are key part of design characteristics for improving surgical outcomes. Advanced motors are used in maximizing pump flow and reduce adverse thrombosis events.
The study on the centrifugal blood pumps market offers an elaborate assessment of key growth areas, such technological advances such as in motors, and the success rate of devices in key indications.
The research offers an in-depth insight into the share and size of key regional segments and tracks the regulations that might spur new investments, creating new avenues.
Centrifugal Blood Pump Market: Key Trends
Advances in cardiac assist devices are associated with less incidence of adverse events such as less hemolysis, derangement of liver function tests (LFT) post procedure, and thromboembolic events. Growing adoption of such pumps for critically ill patients with myocardial infarction is bolstering demand in the centrifugal blood pumps market.
Over the years, developed as well as developing nations have seen the growing numbers of advanced interventional cardiac procedures. Moreover, growing demand for cardiac assist devices for cardiopulmonary bypass is boosting the growth of the centrifugal blood pumps market.
Advent of third-generation ventricular assist devices has opened new avenues in the centrifugal blood pumps market. These consists of motors that are made of high-performing molded plastics, and have actively magnetically levitated rotors. The growing indication of such pumps is a key trend boosting the market. Further, steadily growing indications of the use in cardiac transplants in recent years has bolstered the prospects in the centrifugal blood pumps market.
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Centrifugal Blood Pump Market: Competitive Analysis and Key Developments
Several manufacturers in centrifugal blood pumps market are developing devices that have increased hemocompatibility and reduced thrombogenicity, with an aim to develop devices with high clinical outcomes. Top players are keen on bringing advances in third-generation ventricular assist devices for critical cardiopulmonary surgeries. Few manufacturers have shown their competencies in “bridge-to-decision” device and have equipped their devices with bearingless motor technology.
Numerous medical device manufacturers are exploring new revenue streams in patients who need long-term LVAD. Several players are making incessant efforts to get the devices approved by the FDA for more than one indication, though off-label use is popular in some quarter. For instance, for instance off-label use as a LVAD is common for longer period, typically more than six hours. The case in point is CentriMag Circulatory Support System by Abbott.
Some of the well-entrenched players looking for sizable stakes in the centrifugal blood pumps market are Thoratec Corporation, Baxter International, Kyocera Corporation, 3-M Health Care, St. Jude Medical, Inc., Bio-Medicus, Inc., and Medtronic.
Centrifugal Blood Pump Market: Regional Assessment
The centrifugal blood pumps market has been witnessing sizable revenues in North America and Europe, especially in Western Europe. North America has the presence of several local suppliers and top global players. The U.S. has seen the vast uptake of next-gen VAD in critically ill patients. Revenues in the regional market are also thriving on the back of favorable outlook of regulatory framework.
On the other hand, Asia Pacific is a promising regional market. Its growth is expected to be fueled by emergence of manufacturing units by top players. Also, growing number of cardiac surgeries is also expect to boost the avenues.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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The following regional segments are covered comprehensively:
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